Air Liquide Announces the Divestiture of Some Activities in Africa
L'AIR LIQUIDE SA UNSP/ADR (AIQUY)
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Source: Business Wire
PARIS--(BUSINESS WIRE)--Regulatory News:Air Liquide (Paris:AI) announces the divestiture to Adenia Partners Ltd of the Group’s activities in twelve countries in Africa representing a total annual sales of about 60 million euros.Air Liquide has signed an agreement with Adenia to sell its activities in the following twelve countries in Africa: Benin, Burkina Faso, Cameroon, Congo, Côte d'Ivoire, Gabon, Ghana, Madagascar, Mali, Democratic Republic of Congo, Senegal and Togo. These activities represent sales of about 60 million euros (less than 10% of the Group’s sales in Africa).The proposed divestiture, which is subject to the usual regulatory and financial approvals, illustrates Air Liquide’s strategy to actively manage its portfolio. Adenia, a recognized investor in Africa for over 20 years, plans to invest up to 30 million euros to accelerate the development of these businesses.With approximately 1,600 employees in the region and 700 million euros invested in the last 3 years, Ai
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